Radiation therapy firm Varian Medical Systems reported third quarter sales of $216 million, up 16% compared with the $186.2 million posted in the same period last year. For the quarter (end-June 30), the Palo Alto, CA-based vendor had net earnings of $22.8 million, compared with net earnings of $17.4 million in the third quarter in 2001.
Varian experienced strong growth across its businesses, including a 19% gain in its oncology systems unit, according to the firm. The stronger than expected third quarter results have led the firm to increase its earning estimates for fiscal 2002, said president and CEO Richard Levy.
The company now believes it will grow earnings per share by approximately 24% above its fiscal 2001 post-split earnings of $1.04 per share, he said. Varian continues to predict double-digit sales growth for the fiscal year, Levy said.
By AuntMinnie.com staff writersJuly 26, 2002
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